Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues (in thousands): 

	Three Months Ended March 31,
	2018		2017
Revenues
Rental Operations:
Industrial	$	189,315	$	156,882
Non-reportable Rental Operations	3,453		14,416
Service Operations	41,101		9,399
Total segment revenues	233,869		180,697
Other revenue	688		378
Consolidated revenue from continuing operations	234,557		181,075
Discontinued operations	5		46,239
Consolidated revenue	$	234,562	$	227,314

Summary of Net Operation Income

The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes (in thousands and excluding discontinued operations): 

	Three Months Ended March 31,
	2018			2017
PNOI
Industrial	$	133,388		$	114,680
Non-reportable Rental Operations	921			927
PNOI, excluding all sold properties	134,309			115,607
PNOI from sold properties included in continuing operations	1,606			2,905
PNOI, continuing operations	$	135,915		$	118,512
Earnings from Service Operations	692			1,775
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	6,289			1,577
Revenues related to lease buyouts	23			9,785
Amortization of lease concessions and above and below market rents	545			(543		)
Intercompany rents and other adjusting items	14			180
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	8,287			4,749
Interest expense	(20,000		)	(24,162		)
Depreciation and amortization expense	(77,529		)	(62,023		)
Gain on sale of properties	44,886			37,046
Impairment charges	—			(859		)
Interest and other income, net	4,463			533
General and administrative expenses	(21,023		)	(19,232		)
Gain on land sales	2,949			1,505
Other operating expenses	(786		)	(738		)
Gain on extinguishment of debt	—			25
Other non-segment revenues and expenses, net	(872		)	(583		)
Income from continuing operations before income taxes	$	83,853		$	67,547